Seagate Fiscal Q1 2027 Revenue Rises 61% to $4.233 Billion: Net Income $1.761 Billion, EPS $7.59, Q2 Guidance $4.8 Billion
Seagate Technology (Nasdaq: STX) reported fiscal first-quarter 2027 results after the market close on October 27, for the period ended October 2, 2026: revenue rose 61% year over year to $4.233 billion and net income reached $1.761 billion, with second-quarter guidance above market expectations.
On a GAAP basis, revenue was $4.233 billion, versus $2.629 billion a year earlier; net income was $1.761 billion, versus $549 million; and diluted earnings per share were $7.59, versus $2.43. Non-GAAP diluted EPS was $7.68, versus $2.61 a year earlier. GAAP gross margin rose to 57.3% from 39.4%, and GAAP operating margin was 48.8%. Operating cash flow was $1.690 billion and free cash flow $1.479 billion. Growth was driven mainly by data-center storage demand, as super intelligence (SI) infrastructure buildout continues to lift purchases of high-capacity storage.
Seagate retired approximately $1.2 billion of principal debt during the quarter, lowering gross debt to $2.4 billion at quarter end, and retired an additional $750 million after the quarter, bringing gross debt to $1.6 billion. The company returned $568 million to shareholders through dividends and repurchases, and cash and cash equivalents totaled $1.258 billion at quarter end. The board declared a quarterly cash dividend of $0.76 per share, payable January 7, 2027, to shareholders of record as of December 23, 2026.
Chief Executive Officer Dave Mosley said data creation, retention and reuse continue to compound storage demand, with long-term customer demand visibility reinforcing the company's view of a multi-year growth phase. For the fiscal second quarter of 2027, Seagate guided revenue of $4.8 billion, plus or minus $100 million, and non-GAAP diluted EPS of $9.20, plus or minus $0.20. According to Dow Jones Newswires, despite the beat and the raised outlook, Seagate shares fell 7.9% to $614.79 in after-hours trading on October 27, after closing at $667.85.
Source: GSM · USA (original Chinese edition)
Photo: 图：希捷科技（Seagate Technology）公司标志，编辑提名使用。公共领域，经维基共享资源。 / The Seagate Technology logo, editorial nominative use. Public domain, via Wikimedia Commons.
